Avantrust Launches Its Passport to Support Online Credit and Identity Decisions; Enables U.S. Customers to Transact in Global Markets.
NEW YORK--(BUSINESS WIRE)--April 23, 2001
Avantrust, LLC, a joint venture of American International Group, Inc. (NYSE:AIG) and the Dun & Bradstreet Corporation (NYSE:DNB), today announced the launch of the Avantrust Passport, an easy-to-use Web interface for verifying the identity and creditworthiness of trading partners. Designed for easy integration into seller sites and eMarketplaces, the Avantrust Passport empowers buyers and sellers to make more trusted buy/sell decisions with reduced risk and friction. Avantrust also announced the geographic expansion of its risk management and business information solutions, enabling U.S. customers to trade more safely with European and Asian buyers and sellers.
The Avantrust Passport provides an identity check, through Dun & Bradstreet, to verify that buyers and sellers are who they say they are. Avantrust's credit check functionality, which is incorporated into the Avantrust Passport, allows sellers to determine a buyer's creditworthiness and set appropriate credit limits.
Additional products and services that are available through Avantrust include:
- TradeCredit Insurance - to protect against buyer non-payment with AIG TradeCredit(R) insurance. - Website Security - to assess the security of an online trading environment and then insure it through AIG member companies. - Goods Inspection - to ensure that the right goods arrive by ordering an inspection from one of three leading global inspection companies. - Cargo Insurance - to protect against damage or loss of goods in transit with cargo insurance through AIG member companies.
Leveraging the founding companies' global leadership in insurance, risk management and business information, Avantrust solutions are now available for U.S. seller sites and marketplace participants to transact internationally with more confidence and trust. The company will continue expanding into additional geographic areas to help reduce risks and extend a uniform solution across borders.
"The Avantrust Passport and our continued global expansion enrich our initial product suite by enabling sellers, buyers, and marketplaces to make more confident online trading decisions, in more places around the world," said Gretchen Hayes, acting CEO of Avantrust and President of AIG eBusiness Risk Solutions. "With Avantrust, sellers can sell more online to more customers in more countries, with less risk and expense. Buyers can purchase more online--safely and accurately, at lower costs. And marketplaces can attract more buyers, sellers and transaction volume, while reducing risks and expenses."
For more information on Avantrust, please visit www.avantrust.com.
Avantrust (pronounced ah-vahn-trust) empowers companies to buy and sell more online by reducing the risks and frictions inherent in eCommerce. Formed in October 2000 by American International Group (NYSE: AIG) and Dun & Bradstreet (NYSE: DNB), Avantrust offers an integrated suite of insurance products, risk management services, technology and information offerings. Leveraging the two founding firms' trusted leadership in insurance, financial services, and business information, Avantrust provides innovative solutions for sellers, buyers and marketplaces. For more information, visit our Web site at www.avantrust.com.
American International Group, Inc. (AIG) is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. Avantrust's insurance and risk management services are provided through AIG eBusiness Risk Solutions. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. For more information, please visit www.aig.com.
Dun & Bradstreet (NYSE:DNB), the world's leading provider of business information, has been enabling business-to-business commerce for nearly 160 years. D&B's information and technology solutions help businesses reduce credit risk, find profitable customers, manage vendors efficiently and collect cash and receivables. Businesses also use D&B's information and technology to authenticate and verify potential trading partners online, increasing their trust and confidence in e-Commerce transactions. That's why so many companies -- including over 90 percent of the Business Week Global 1000 -- rely on D&B as the most trusted source for information they need to make their business a success. For more information, please visit www.dnb.com.
* Insurance coverages are underwritten by AIG member companies. Products and service may not be available in all states. Issuance of insurance coverage is subject to underwriting. Please see the policy for a complete description of its scope and limitations of coverage.
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|Date:||Apr 23, 2001|
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